Leading Insurance Firm Announces Growth Plans in Nova Scotia
Marsh is expanding its Captive Solutions Group by adding 60 jobs to its Halifax operation over the next five years.
"The province remains committed to working with companies like Marsh, which provide good employment in the financial services sector and skilled opportunities for Nova Scotians," said Graham Steele, Minister of Economic and Rural Development and Tourism. "Marsh has clients all over the world, and our Nova Scotia workforce is helping to serve those clients in the global marketplace."
Marsh expanded to Halifax in 2006, when it had 10 international accounts under management, and today it has 300. It provides consulting, design and management services to more than 1,200 captive insurance companies around the world. A captive is a form of self-insurance by corporations, groups and consortiums. Many of Marsh's clients are Fortune 500 companies.
"Our Halifax people are known for their productivity, efficiency, and are consistently early adopters of new technology we've introduced," said Julie Boucher, practice leader, Marsh Captive Solutions Group. "The Halifax team will be instrumental in rolling out our new global initiatives, to our Marsh Captive Solutions' offices around the world."
Every year, Marsh hires a number of co-operative education students from local universities. Last year, Marsh hired 13 students to work in its Halifax operation, allowing the students to gain valuable skills and experience working with national and international clients.
"Most of our students are eager to work in Halifax and we are happy to partner with international employers such as Marsh Captive Solutions, which has been a destination of choice for our bachelor of commerce co-op students," said Patricia Bradshaw, dean of the Sobey School of Business, Saint Mary's University.
In return for hiring up to 60 new employees over the next five-years, Marsh will qualify for up to $924,000 in earned incentives though Nova Scotia Business Inc.
"Our financial services sector in the province has been growing, and Marsh is a valuable asset to that growth," said Stephen Lund, president and CEO of Nova Scotia Business Inc. "We're excited about Marsh's growth plans and the momentum it adds to the entire sector."
In a recently released mandatory performance analysis by Gardner Pinfold, an independent consultant, NSBI client activity contributed $139.2 million in new provincial tax revenues. Every tax dollar invested via payroll rebates returned $1.54 to the province and taxpayers.
Marsh is a global leader in insurance broking and risk management, and teams with its clients to define, design, and deliver innovative industry-specific solutions that help protect their future and thrive. It has about 26,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh and McLennan Companies, a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital.
Nova Scotia Business Inc. is the province's private-sector-led business development agency. Through trade development, investment attraction, business financing and venture capital, NSBI assists local companies and attracts international companies to Nova Scotia.
For more information on Nova Scotia's financial services sector, visit www.novascotiabusiness.com/en/home/newsevents/FS-Sector-background.aspx .